Corporate Finance & Accounting

LONDON — November 13, 2026 -- HSBC Holdings plc closed a $1.5 billion issue of 7.625% perpetual subordinated contingent convertible securities, which satisfies the New Issue Condition in its tender offer for an older series. The offer covers up to $1.5 billion of the $3 billion 6.000% perpetual subordinated contingent convertible securities outstanding, or half the series.

HSBC raised the tender cap by 50% and will pay 100.50% of principal

HSBC announced the offer on 5 November 2026 with a Maximum Tender Amount of $1 billion. It raised the cap to $1.5 billion on 6 November 2026, an increase of 50%. The purchase price is 100.50% of the principal amount accepted, a premium of 0.50 percentage points over par. On the full $1.5 billion, that works out to a premium of $7.5 million, by our calculation.

LEAWOOD, Kan. — November 13, 2026 -- Benefits administrator NueSynergy has been named a Top HSA Administrator for 2026 by Morningstar, the company said. NueSynergy describes the honor as a repeat recognition but did not say in which earlier years it was awarded.

The award comes from Morningstar's 2026 HSA Landscape Report, which covers Health Savings Accounts only. NueSynergy says Morningstar's annual rankings assess HSA providers on investment options, fees and overall value. By our count, the release lists six other product categories outside the HSA business, so the recognition does not extend to most of the company's offering.

ROCHESTER -- November 13, 2026 -- Lender requirements, not cost alone, should decide whether a company commissions an audit, a review or a compilation of its financial statements, according to a HelloNation article featuring Tracey Rink, CPA, of Bowers Accountants & Advisors in Rochester, New York.

The three engagements form a ladder of assurance. According to the article, an audit is the highest level a CPA can provide: reasonable assurance that the statements are free from material misstatement, built on internal-control evaluation, transaction testing and confirmation of account balances. The article says no audit can guarantee complete accuracy or catch every instance of fraud.

A review sits one step lower. The CPA applies analytical procedures and questions management, then reports only that nothing has come to their attention indicating material modifications are required. The article describes this as limited assurance.

WIESBADEN – November 13, 2026 -- German district courts registered 17,252 corporate insolvency applications from January to August 2026, 6.6% more than a year earlier, the Federal Statistical Office (Destatis) reported. Creditor claims moved the other way: they fell by about 30%, from roughly €37.2 billion to roughly €25.9 billion.

Creditor claims drop by €11.3 billion as case numbers rise

The €11.3 billion decline in claims is equivalent to a fall of about 30% (37.2 to 25.9). Destatis attributes it to more economically significant companies having filed in the first eight months of 2025 than in 2026.

NEW YORK — November 13, 2026 -- WhiteHorse Finance, Inc. (Nasdaq: WHF) will redeem all $34.5 million of its 7.875% Notes due 2028 on December 15, 2026, and plans to fund the repayment with new borrowing. The notes (Nasdaq: WHFCL) will then be delisted from the Nasdaq Global Select Market.

The notes carry about $2.7 million a year in interest by FairsOnline's calculation: $34.5 million at 7.875% works out to $2,716,875. Holders receive $25 per note plus accrued and unpaid interest for the current quarterly period, up to but excluding the redemption date. At $25 per note, the issue comprises about 1.38 million notes.

JOHANNESBURG -- November 13, 2026 -- Sasol has appointed independent non-executive director Stanley Subramoney as Chairman of its Audit Committee and as the company's financial expert, effective 14 November 2026, one day after the 13 November announcement. The company made the disclosure under para 6.71 of the JSE Listings Requirements and para 6.42 of the JSE Debt and Specialist Securities Listings Requirements.

The chair goes to an existing committee member. Subramoney has sat on the Sasol Board since 2021, about five years by FairsOnline's calculation, and already serves on both the Audit and Remuneration Committees.

JERSEY CITY -- November 12, 2026 -- Asset Based Lending (ABL), a New Jersey private lender, closed a $200 million unrated securitization on October 26, the largest of its four deals to date, according to the company. The transaction, ABL 2026 RTL-1, lifts the lender's cumulative securitization volume to $723 million.

The three earlier deals therefore total $523 million, an average of about $174 million each, by FairsOnline's calculation. At $200 million, the new deal is about 15% larger than that average.

ABL moved the deal from pricing to close in 11 days

RTL-1 priced on October 15 and closed on October 26. ABL says the deal reached the market in about three weeks, one of its fastest securitization executions. It describes conditions as volatile, with investors more selective across the securitization market, and says it still secured competitive financing terms. ABL did not disclose the coupon or the share of ground-up loans in the pool.

SEATTLE -- November 12, 2026 -- Weyerhaeuser Company (NYSE: WY) declared a quarterly base cash dividend of $0.21 per share, payable on December 18, 2026, to holders of record at the close of business on December 4, 2026. The payment works out to $0.84 per share on an annualized basis, by FairsOnline's calculation ($0.21 x 4).

Record holders on December 4 receive payment 14 days later, on December 18.

Weyerhaeuser ties total shareholder return to 75% to 80% of Adjusted FAD

The base dividend is only part of the planned payout. The company says it expects to supplement it, "as appropriate," with variable cash to reach a targeted total return of 75% to 80% of annual Adjusted Funds Available for Distribution (Adjusted FAD). By FairsOnline's calculation, that leaves 20% to 25% of annual Adjusted FAD outside the return target.

TAMPA – November 12, 2026 -- Aline Accounting Partners, a Tampa, Florida-based accounting and advisory group, announced a $206 million financing led by Square Nine Capital. The deal refinances Aline's existing debt and adds capital for acquisitions, organic growth, talent and technology.

The company did not say how much of the $206 million replaces existing debt and how much is new money. That split determines how much capacity Aline has for acquisitions.

Square Nine Capital is named as the lead of the financing. The release names no other participants and gives no terms, such as pricing, maturity or security.